12/04/2015 Live Update

[Daniel]

Can anyone tell me why fuel prices are still so high with Crude being at under $40?

Yes. Refiners can tell you.

[BullBear52x]

Can anyone tell me why fuel prices are still so high with Crude being at under $40?

refineries top dog is still in US account for 58%, there's room to play on pricing here.

"The top 10 oil refining countries account for more than 58% of the world's total refinery capacity. The United States is the biggest refiner in the world followed by China, Russia, Japan and India. Hydrocarbons-technology.com profiles the top 10 countries with the refinery capacity calculated by day."

[fehro]

did Draghi… just changed his mind…

[daxer]

more qe from Draghi, this big loser

[Al_Dente]

isis controls production of 30,000 barrels of oil a day in Iraq and 50,000 barrels in Syria. By selling the crude on the black market at a discounted price, isis takes in about $100 million each month. This "dumping" of crude dramatically lowers the price of oil in the global markets.
isis’s dominant source of funds (estimated at 80% of their income) is crude, but other profit centers include: selling sex slaves, ransoming hostages, plundering stolen farmland, etc.
So, just WHO are the slime commodity trading firms that have been buying millions of smuggled oil barrels at massive discounts to market, and then reselling them to other interested parties? In other words, who are the scum middlemen who are making massive profits from funding terrorism?

zh has many cogent posts about this, here are two:
http://www.zerohedge.com/news/2015-11-1 ... ody-asking
http://www.zerohedge.com/news/2015-11-2 ... d-israel-c

Russia has a clue and started bombing the shite out of the crude truck caravans, reducing black-market sales. We’ve been for 1+ years casual bombing the refineries. isis sells the crude; they've already made their money off crude b4 it gets to the refineries. We are stupid. Just lately (last week?) we finally got smarter and after dropping leaflets 45 minutes in advance, warning truck drivers to abandon ship, we are bombing crude trucks. No word yet if we offered free drinks and free neck massages to the truck drivers….
What a fracking mess…..

[ave]

Can anyone tell me why fuel prices are still so high with Crude being at under $40?

I believe it is the tax on the fuel is much much higher comparing to 2008.

[fehro]

SPX invs H&S target fwiw.

[Cobra]

another 100% mm. this bull may still have legs.

[BullBear52x]

isis controls production of 30,000 barrels of oil a day in Iraq and 50,000 barrels in Syria. By selling the crude on the black market at a discounted price, isis takes in about $100 million each month. This "dumping" of crude dramatically lowers the price of oil in the global markets.
isis’s dominant source of funds is crude, but other profit centers include: selling sex slaves, ransoming hostages, plundering stolen farmland, etc.
So, just WHO are the slime commodity trading firms that have been buying millions of smuggled oil barrels at massive discounts to market, and then reselling them to other interested parties? In other words, who are the scum middlemen who are making massive profits from funding terrorism?

zh has many cogent posts about this, here are two:
http://www.zerohedge.com/news/2015-11-1 ... ody-asking
http://www.zerohedge.com/news/2015-11-2 ... d-israel-c

Russia has a clue and started bombing the shite out of the crude truck caravans, reducing black-market sales. We’ve been for 1+ years casual bombing the refineries. ISIS has already made their money off crude b4 it gets to the refineries. We are stupid. Just lately (last week?) we finally got smarter and after dropping leaflets 45 minutes in advance, warning truck drivers to abandon ship, we are bombing crude trucks. No word yet if we offered free drinks and free neck massages to the truck drivers….
What a fracking mess…..

OK Trump

[fehro]

SPX invs H&S target fwiw.

don't trust it.. but take out yesterday's HOD.. then off to the races we go.. VIX weakening.. RUT still weak, .. VXX not moving.. yet.. doesn't buy it.. so far

[josephli]

SPX invs H&S target fwiw.

don't trust it.. but take out yesterday's HOD.. then off to the races we go.. VIX weakening.. RUT still weak, .. VXX not moving.. yet.. doesn't buy it.. so far

It will be wild wild ride for sure. with forex and treasuries huge move.

[jpk29]

Can anyone tell me why fuel prices are still so high with Crude being at under $40?

I believe it is the tax on the fuel is much much higher comparing to 2008.

average state and federal tax on gasoline is $.45 per gallon. Diesel is about $.51 per gallon.not sure how that compares to 2008. Refined products are being exported so use Brent as your underlying crude input, its few bucks higher then WTI. I get rough math of $1.47 per gallon without any return to the refiner or gas station

[Al_Dente]

OK Trump

Boss you know we’ve had bad “intelligence” for the last 15+ years
So “stupid” is bipartisan, throughout the last republican and democrat regimes

[josephli]

nevertheless, some hedge funds are set to lose huge here.

[Al_Dente]

Advancing stocks are 1.4 x declining stocks
Advancing volume is 1.1 x declining volume
Bull bias slipped down into CHOP territory
TICK keeps pounding down at the moment

Advancing stocks are 1.8 x declining stocks
Advancing volume is 1.5 x declining volume
TICK recovers

[MrMiyagi]

WE'RE
NEVER!!!
EVER!!!
GOING
DOWN!!!


(more than 3 consecutive days)

[fehro]

SPX invs H&S target fwiw.

don't trust it.. but take out yesterday's HOD.. then off to the races we go.. VIX weakening.. RUT still weak, .. VXX not moving.. yet.. doesn't buy it.. so far

It will be wild wild ride for sure. with forex and treasuries huge move.

nice call yesterday josephli in the short covering rally.. trying to save those weeklies

[MrMiyagi]

Intraday NYMO at -16.67, just about day's high.

[BullBear52x]

There should be a pause at 2092, just because.

[fehro]

There should be a pause at 2092, just because.

gotta little resistance here..